Fed’s Neel Kashkari out with an essay of all things
- Prefers the Fed to not raise rates until Core PCE is at 2%
- Jobs growth, wage growth and inflation would have been weaker if the Fed hadn’t raised rates
- Labour market slack and falling inflation expectations are causing persistently low inflation
- Fed should proceed with caution
He’s a voter so his comments have helped bring the buck back down from the ISMK inspired highs. 112.60 trades. EURUSD held support at 1.1730 once again.